An examination of past episodes of currency tension suggests that competitive devaluations are not likely today. But the forces behind past collapses remain highly relevant and policy makers cannot afford to be complacent. […]
Policy makers should heed the lessons of the Great Recession and enact the structural and regulatory reforms needed to protect the world against the next crisis. […]
Despite the grim economic outlook for California, America’s Golden State holds lessons for how Europe can survive its own debt crisis and make the continent more resilient to future shocks. […]
Achieving sustainable fiscal policies in the United States is likely to prove more important for the promotion of sustained growth, both domestically and globally, than anything that could be done by China or Germany. […]
When rethinking the institutional arrangements that underpin their monetary union, Europeans should take note of the California’s experience during the Great Recession. […]
Faster growth in the G20 must come through increased demand in advanced nations—beginning with the United States and Germany—rather than agreements about currency appreciations or current account targets. […]
Threats of a currency war hang in the air, but few countries have actually seen their exchange rate appreciate significantly. Major world economies should refocus on domestic policies before the rhetoric turns into reality. […]
Deficit countries are neglecting the needed—and more difficult—reforms at home and fueling protectionist sentiment abroad with their focus on external trade imbalances and their calls for major surplus economies to increase demand. […]
Growth in emerging economies has slowed from torrid post-crisis rates, but remains high and will likely mitigate—but not fully compensate for—a sharp slowdown in advanced countries. […]
Private demand is not yet strong enough in advanced countries to compensate for the drag to come from fiscal stimulus withdrawal. Large countries that can afford to delay the withdrawal should do so. […]
Copyright © 2024 | Economic Policy International
